Final answer:
Research and development (R&D) are activities that involve the practical application of knowledge to create new products or services. It is crucial for technological advances and economic growth, but can also be influenced by political considerations. Examples include developing new household products or advances in technology that impact our daily lives.
Step-by-step explanation:
Research and development (R&D) are research activities undertaken to put new or existing knowledge to use in producing goods and services. Scientific research that does not have any immediate practical use is known as 'basic' or 'pure' research, distinguishing it from applied research, which is aimed at solving specific practical problems. R&D is a significant factor in technology creation and innovation, making it fundamental for economic growth and advancements in various sectors.
Examples of applied research can be found in the development of new products like detergents that are more effective and environmentally friendly, or in the work done to improve the safety and reliability of technology products used by consumers. The process of R&D is often long and unpredictable; for instance, the development of a new apple variety could take over two decades before becoming commercially available. Once R&D produces technology, it often becomes broadly available, unless protected by patents.
As taxpayers fund R&D, its direction may sometimes be influenced by political considerations, although its primary goal is scientific and economic progress. Research in technology and products is central to our modern lifestyle, impacting everything from mobile phones to medical treatments, from more efficient methods of production to new management practices.